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White Coat Investor Podcast

MtoM #136: Cutting Back To Full Time and Finance 101: Home Buying

Sep 18, 2023
30:21
Snipd AI
A pathologist achieved financial stability by selling their house, shifting education costs, and not paying off student loans. The podcast also discusses the importance of disability and life insurance for doctors and provides guidelines for buying a home and doctor mortgages.
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Podcast summary created with Snipd AI

Quick takeaways

  • Achieving financial stability and minimizing fixed expenses are essential for transitioning from multiple jobs to working one full-time job.
  • Buying a home should be carefully timed, considering transaction costs, appreciation potential, and guidelines like spending no more than 20% of gross income on housing and keeping the mortgage less than two times the gross income.

Deep dives

Milestone: Cutting Back to Full Time

In this podcast episode, the guest, who is a pathologist, shares her milestone of cutting back to 1.0 FTE (full-time equivalent). She describes the journey from working multiple jobs to reaching a point where cutting back was a viable option. The decision was influenced by achieving financial stability and finding a sustainable job that aligns with her long-term goals. The guest emphasizes the importance of minimizing fixed expenses, budgeting with transparency, and being on the same page with her spouse. She discusses the impact of being renters instead of homeowners and highlights the freedom and predictability it provides for their financial life.

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